Insights into B2C Overseas Industry Trends: Analysis of Electric Bicycle Categories and Case Sharing

In the past two years, due to the impact of the epidemic, more and more overseas consumers have changed their commuting preferences, making electric bicycles a popular consumer category. Therefore, electric bicycles have also become a key focus category for Chinese overseas merchants. Today, the editor has compiled market trend insights and case sharing related to the electric bicycle industry going abroad, hoping to help overseas merchants find new ideas.

1： The global electric bicycle market is showing a growing trend with promising prospects
Global electric bicycle market size
In 2020, the global market size of electric bicycles reached around 25 billion US dollars; Statista's market forecast for 2021 shows that the total electric bicycle market is expected to grow at a compound annual growth rate of nearly 10% from 2021 to 2028, reaching nearly $48.5 billion by 2028.
Whether in terms of annual growth rate or estimated market size, we can understand that electric bicycles will be a product category for overseas merchants to choose from in the next 10 years, with great potential for market growth and profit value.

At the same time, the editor also analyzed the main factors contributing to the growth of the electric bicycle market from two aspects. On the one hand, governments around the world are taking measures to encourage people to travel environmentally friendly and low-carbon, and to encourage the use of electric bicycles, electric vehicles, and bicycles. At the same time, governments are also building self driving friendly streets to facilitate people's travel; On the other hand, there has been a change in consumer commuting preferences. Due to the impact of the epidemic, people are paying more attention to health and reducing dense contact with people. As a result, daily travel patterns will change. At the same time, electric bicycles are convenient to handle various terrains, which is also the reason for the growth of the electric bicycle market.
High performance electric bicycles are mainstream products overseas
Electric bicycles can be divided into three categories based on their functions: commuting, high-performance, and practical.
Commuter electric bicycles place greater emphasis on comfort; High performance electric bicycles have higher requirements for their own performance; Practical electric bicycles pay more attention to multi-purpose, such as towing heavy objects; Among them, high-performance electric bicycles are currently the mainstream products overseas and the main products promoted by Chinese merchants going abroad.
The Marketsandmarkets research report shows that among high-performance electric bicycles, mountain bikes are expected to be the fastest-growing segment in the forecast period (2021-2026). Due to their multiple functions and wide usage range, they are more popular among consumers.
The seasonal impact on the electric bicycle market is significant
From September 2019 to September 2021, the search trend for electric bicycles on Google showed a significant increase in Q2 each year. Spring is a suitable season for cycling, and many overseas merchants choose to start preparing from February to March and starting from Q2. Therefore, businesses with plans to sell electric bicycles overseas can start preparing from now on.
Market Choice for Electric Bicycle Industry Going Abroad
The Asia Pacific region is the largest market in 2021 and is expected to remain the leading regional market for electric bicycles in 2022; Within this region, India, Japan, and South Korea are potential markets as the sales of electric bicycles in these countries are constantly increasing.
The second ranked Europe is expected to have the fastest growth, with countries such as France, the Netherlands, Belgium, Austria, the United Kingdom, Germany, etc. adopting more proactive measures for electric bicycles, which will have an impact on the growth of their electric bicycle markets.
2： Different countries and regions have different policies for the use of electric bicycles
When choosing electric bicycles for overseas markets, it is necessary to focus on understanding the relevant policies of different countries and regions for electric bicycles, in order to help merchants better select products in advance, sell compliant products, and avoid such after-sales problems. For example, in EU countries, electric bicycles are divided into two categories based on their usage: those without a handlebar and those with a handlebar, and there are also strict regulations on the parameters: 1 The maximum continuous output power of the motor is 250W, 2 When the speed reaches 25km/h, the motor current will be disconnected and no longer provide assistance; And 13 states in the United States have taken the lead in implementing a Class 1/2/3 classification system, which regulates all three levels of electric bicycles.
Therefore, when choosing the electric bicycle sales market, it is not only necessary to understand the local consumer needs, but also to comply with the local government's policy requirements in order to avoid some unnecessary after-sales problems.
Factors that influence consumer purchases
In order to facilitate order conversion more effectively, while selecting the right products and advertising methods, it is important to understand several factors that affect consumer purchases. Only by controlling multiple aspects can we truly achieve easy overseas travel, and there are several factors that affect consumer purchases:
-Budget
Electric bicycles are relatively expensive, and consumers generally choose according to their budget range, and they are more inclined to consider purchasing electric bicycles in the middle price range (especially the choice of the first car).
-Quality/Safety
Consumers also have certain considerations for the quality and safety of electric bicycles, as they are afraid that bicycles with low prices may not be safe enough. This will be one of the factors to consider when choosing an electric bicycle.
-Brand/Reputation
Consumers are also very concerned about brands/word-of-mouth, and are more inclined to choose brands they recognize or products with good word-of-mouth.
-Comfortable/effortless
One of the main purposes of purchasing an electric bicycle is to save energy, so consumers have certain requirements for whether the product is truly labor-saving and whether it is comfortable to ride, and they will consider it when making a purchase.
-Function/Type
There are various types of electric bicycles, so consumers will also consider the functions of electric bicycles and make purchases based on their actual needs.